Resolution 140 RESOLUTION NO.140.
A RESOLUTION FOR THE ACCEPTANCE OF THE
BID OF EIGHTY THOUSAND ($50,000.00) DOL-
LARS SERIES "D" STREET IMPROVEMENT BONDS.
WHEREAS, Bank of Bay Biscayne, of Miami, Florida,
did, on the 22nd day of December, A.D. ,1920, submit to the city
council a sealed bid for the purchase of $50,000.00 Series "D"
Six per cent Street Improvement Bonds of the City of Miami Beach,
Florida, dated Septemberl, 1920, which said bid read as follows:
PROPOSAL FOR BONDS.
Miami, Florida, December 22, 1920.
C.W.Tomlinson, City Clerk,
Miami Beach, Florida.
Sir:
For $80,000. 6% Street Improvement Bonds of the City of
Miami Beach, Florida, dated September 1, 1920, described in the
attached notice of sale, which is hereby made a part of this bid,
we will pay and accrued interest
Dollars ( 600.00
For Ei ht Thousand Dollars
050.000.0 of said bonds maturing as per
ad herewith.
we wi 1 pay Dollars
In addition thereto we will pay accrued interest to date of
delivery and will accept delivery at the time stated in said notice
of sale, at Miami Florida.
We enclose herewith certified check for t1600.bc5
being 2% of the par value of the bonds bid for, payane to the order
of the Clerk of the City of Miami Beach, Florida, which check is
to be returned to us if this bid is not accepted, otherwise to be
deposited by said City Clerk, and when the bonds are delivered and
paid for under the terms of this bid, to be considered as an advance
part payment therefor , or, to be retained as and for liquidated dam-
ages in case we fail to so take up and pay for the bonds.
BANK OF BAY BISCAYNE
By Jas. H.Gilman (Signed)
President.
No addition or alteration to be made to the above proposal and
the same must not be detached from the annexed advertisement.
And said Bank of Bay Biscayne having complied
with the terms of the advertisement giving notice of the sale of
the city bonds,
Now, therefore, be it resolved by the City Council of
the City of Miami Beach, Florida, that the said bid be, and the
same is, hereby declared to be the highest bid received for said
bonds; and be it further resolved that the bonds aforesaid be,
and the same are, hereby sold and awarded to the said Bank of
Bay Biscayne, of Miami, Florida, at and for the following price,
to-wit: Ninety Seven and accrued interest to date of delivery,
and that the United States Mortgage and Trust Company
T r
be, and it is hereby instructed and directed to deliver the said
bonds to the said Bank of Bay Biscayne, of Miami, Florida, on
the 5th day of January,A.D. ,1921, at 10 o'clock A.M. , upon the
payment to the said United States Mortgage and Trust Company the
sum of $77, 600.00 aad accrued interest to date
of delivery.
PASSED AND ADOPTED this 22nd day of Deoember,A.D. ,1920.
Presi en o ity Counci .
ATTEST:
/ / .
City Clerk.
APPROVED this 22nd day of December, A.D. ,1920.
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